This is the second time Fatmeh requests a loan from Al Majmoua. She is requesting a loan of $600 so her son can purchase scarves and women's underwear in Dubai and ship the goods to Lebanon.
Fatmeh is part of a group loan with other women from the same village. A group is usually constituted of self-chosen women, living in vulnerable conditions, mostly in rural areas. The group lending is based on incremental increase of loan amount and group solidarity to guarantee repayment. The strength of the group loan is that it encourages the collaboration approach in the borrowing community. It is a very powerful tool towards economic empowerment of women.
About Al Majmoua – Lebanese Association for DevelopmentThe Lebanese Association for Development – Al Majmoua is Lebanon’s leading microfinance institution and the oldest Kiva partner in Lebanon. Al Majmoua’s vision is to “be the leader in creating an inclusive financial system where all people in Lebanon have access to affordable services.” Given Lebanon's diverse population, Al Majmoua lends to all nationalities, provided legal residency. The strong financial position achieved to date has allowed Al Majmoua to steadily lower its pricing over the years.
Based on the belief that non-financial services play a complementary role in improving the quality of life of the most vulnerable entrepreneurs, Al Majmoua has established a solid Business Development Services program for both borrowers and non-borrowers with a focus on women and youth.
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Success!! The loan was 100% repaid